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3 Mark's In The Loop Newsletter

3 Mark Financial, Inc.

October 23, 2019

New rates for Banner and William Penn OPTerm

New rates for Banner and William Penn OPTerm 10, 15, 20, 25 and 30 include a mix of decreases and increases. No changes to OPTerm 35 and 40.

Banner OPTerm pricing comes in at #1 - 77% of the time and top 3 - 87% of the time against core competitors*

New Rate Structure in New York
William Penn OPTerm rates in New York are now set on a separate rate structure than Banner OPTerm rates. Pricing in New York remains highly competitive!

William Penn OPTerm pricing comes in at #1 - 80% of the time and top 3 - 93% of the time against core competitors*

Year-end Key Employee Benefit Sales Opportunities

In case you missed our PLN Call, a playback is available for the next 30 days.  Go to the Business Market Solutions section of the Events page on the advisor website for playback instructions.  Here are the handouts:

Managing Sequence of Return Risk

Investment returns are variable and, unfortunately, unpredictable. When planning for income, the sequence of positive and negative annual returns can have a significant impact on how long a portfolio will last — particularly if the portfolio is in the distribution stage and a set amount is being withdrawn from the portfolio every year. Low or negative returns in the first few years of retirement can significantly add to the possibility of portfolio ruin. Learn more here.

Our Investment Capabilities and Expertise are Industry Leading

Please click here to find out more about Global Atlantic's approach to investment and risk management.  Click here for even more videos.

Easily Add to Your Client's AXA Coverage with our Q4 Mission Addition Underwriting Program!

With the Q4 Mission Addition underwriting program, your clients can quickly and easily add a permanent life insurance policy of the same amount (up to a $1 million) to their existing life insurance program. And, if they meet our criteria, we'll give your clients an opportunity to benefit from the Mission Addition Advantage: either include our Long-Term Care Services Rider, or improve their rating by one class.  More here

Help Clients Maximize IRA Distributions to Increase their Legacy and Control

With IRA assets topping $9.3 trillion in 2018,1 chances are you have clients that may benefit from enhancing their stretch IRA strategy with life insurance. Our newly updated IRA maximization spotlight page is a resource that can help you explain how repositioning IRA assets inside a life insurance trust may help your clients: 

  • Minimize taxes while maximizing their legacy.
  • Control distributions.
  • Transfer assets outside of their estates.

Where is the Insurance Industry on the Technology Learning Curve?

In comparison to other industries, life, health, and annuities have been seen as slow to embrace technology. Perspectives magazine checked in with several BGAs, carriers and technology vendors to see how we sit on the learning curve, as well as discovering what lies ahead in technology to help you make the grade.  Check it out here. 

Hybrid or linked-benefit products are a fresh approach to retirement and estate planning. These products, cover opposing risk groups by combining long-term care coverage with life insurance or an annuity.

Best Practices for “In Good Order” Lincoln MoneyGuard Submissions

Lincoln’s Underwriting and New Business team is dedicated to streamlining the submissions process to help you place your Lincoln MoneyGuard cases more quickly. To improve your in-good-order submissions and help expedite the Underwriting and New Business process, please download and reference our Submission Tips and Best Practices.

The OneAmerica Difference

Are you protecting your clients against the risk of Long-Term Care or AVERAGE-TERM Care? Click here to learn about a combination of protection and service you won’t find anywhere else.

Not Just A Job

Click here to watch an inspirational message from our president Dennis Martin about our commitment to our clients and his personal story in dealing with a Long-Term Care event.

In The Loop Annuities / LTC

ASSET TRANSFER TIPS 

For all annuity carriers

Transferring assets, or exchanging money via section 1035 of the tax code, may have tax consequences. Any questions regarding taxation should be referred to a qualified tax professional.

Call the Financial Institution/Insurance Company to see what they require to transfer the money e. g. some financial institutions, like Fidelity, require a call from the client to release money, others like Northwestern Mutual require their own surrender form to accompany the 1035/transfer form from the company receiving the money.

Attach a copy of a current policy/ account statement for the funds being transferred to the 1035/transfer document.

Complete the 1035/transfer form carefully and completely. Be sure all necessary signatures are obtained.

Send original transfer forms with the application to 3 Mark for processing.

Annuity Fact Finder 

Click here for a great Annuity Fact Finder

In The Loop Underwriting New Business

Accelerated Underwriting Expansion

Effective October 5, 2019, the guidelines for Columbus Life’s accelerated underwriting program will expand to include clients applying for face amounts of up to $1,000,000 – twice the amount of the original limit!  Read More

Updated Guide for Nationwide’s Intelligent Underwriting Process

Our updated guide reflects the following recent enhancements:

  • Acceleration up to $2,000,000 ages 18-50
  • Acceleration now through Standard Plus rate class where available by product

Improved Ratings for Table Rated Offers

Do you have clients between the ages of 18 and 70 who you think might receive a table rated underwriting decision? If you do, we have some good news!

Through the end of 2019, our underwriting team is offering a table shave program that could give even more of your clients an improved underwriting decision. Underwriting offers on permanent products that are Table A-D will receive a Standard rating. Learn more about the eligibility requirements for this program here.

No More Guesswork

Our new worksheets help you write good business and then communicate that value to underwriters. All the functionality is built-in – no calculator or software required!  Insurable Amount Worksheets

2017 CSO changes and year-end processing guidelines

Please check back often as we will update this report as additional information becomes available.  Click here to view the report.

Want to become more efficient at filling out e-applications?

Not sure how to sign an application? Have questions about the e-application process?
Did you know…
• The iPipeline support team offers a free, live training demo of the iGO e-application software.
• The demo walks through the entire e-application process from starting a case to signing and submitting it to the carrier.

To sign- up, click this link  Demos are held every Thursday a 3PM EST.

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